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pleawe explain how to do X parts and so on because im stuck thank you Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data
pleawe explain how to do X parts and so on because im stuck
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for prepaid cell phones for December are as follows: Inventory Purchases Sales Dec. 1 3,800 units at $32 Dec. 10 1,900 units at $34 Dec. 12 2,660 units Dec. 20 1,710 units at $36 Dec. 14 2,280 units Dec. 31 1,140 units a. Assuming that the perpetual inventory system is used, costing by the LIFO method, determine the cost of goods sold for each sale and the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost fir- LOWER unit cost first in the Inventory Unit Cost column. Schedule of Cost of Goods Sold LIFO Method Prepaid Cell Phones Schedule of Cost of Goods Sold LIFO Method Prepaid Cell Phones Cost of Cost of Purchases Quantity Goods Sold Goods Sold Inventory Inventory Total Cost Sold Unit Cost Total Cost Quantity Unit Cost Quantity Purchased Purchases Unit Cost Inventory Total Cost Date Dec. 1 3,800 32 121,600 Dec. 10 1.900 34 64,600 J.800 32 121,600 1,900 34 64,600 Dec. 12 1.900 34 64,600 X 32 32 Dec. 14 2,280 32 72,960 32 Dec, 20 1,710 36 61,560 32 Dec. 31 11 Dec. 31 Balances FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year: Beginning inventory 36 units at $44 Sale 27 units at $62 First purchase 34 units at $47 Sale 33 units at $63 Second purchase 27 units at $49 Sale 25 units at $65 The firm uses the perpetual inventory system, and there are 12 units of the item on hand at the end of the year. a. What is the total cost of the ending inventory according to FIFO? 888 SI b. What is the total cost of the ending inventory according to LIFO? * thank you
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